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Recommended Reading for Value Investors

|Includes: Berkshire Hathaway Inc (BRK.A)

I think a common trait that successful investors share is that they all tend to be voracious readers. They consume information at an alarming pace and every morsel of data becomes part of their framework for evaluating investments.

 

That said, I'd like to share some of my favorite books. I'll separate them by topic and try to update them regularly. 

 

Valuation

Value Investing: From Graham to Buffett and Beyond by Bruce Greenwald

Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher

Valuation: Measuring and Managing the Value of Companies by Mckinsey & Company

Distressed Investing by Martin J. Whitman

The Dhandho Investor by Mohnish Pabrai

 

History

Empire of Wealth by John Steele Gordon

The Big Short by Michael Lewis

The Greatest Trade Ever by Gregory Zuckerman

 

Economics

The General Theory of Employment, Interest, and Money by John Maynard Keynes

Peddling Prosperity by Paul Krugman (published in 1995 before he became a political shill)

 

Psychology

Influence: The Psychology of Persuasion by Robert B. Cialdini

Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay

 

Utilities

America's Electric Utilities: Past, Present, and Future by Leonard S. Hyman 

 


Risk

Fooled by Randomness and The Black Swan by Nassim Taleb (the author is exceedingly obnoxious in his writing style but the ideas are of interest to us)

Against the Gods by Peter L. Bernstein

 

Investor Letters

Berkshire Hathaway Shareholder Letters from Warren Buffett

Oaktree Capital Memos from Howard Marks

Scion Capital Investor Letters from Dr. Michael Burry

 

That's a good start. 

Disclosure: Long BRK.B